Inari Medical’s (NARI) “Equal Weight” Rating Reiterated at Wells Fargo & Company

Wells Fargo & Company restated their equal weight rating on shares of Inari Medical (NASDAQ:NARI) in a research report report published on Tuesday, MarketBeat.com reports. The brokerage currently has a $80.00 target price on the stock, up from their prior target price of $65.00.

Other equities analysts have also recently issued research reports about the company. Canaccord Genuity Group reiterated a “hold” rating and issued a $80.00 price objective (up previously from $74.00) on shares of Inari Medical in a research note on Tuesday. Needham & Company LLC reiterated a “hold” rating on shares of Inari Medical in a report on Tuesday, October 29th. Oppenheimer started coverage on shares of Inari Medical in a report on Tuesday, December 17th. They issued an “outperform” rating and a $75.00 price objective on the stock. Truist Financial boosted their target price on shares of Inari Medical from $50.00 to $63.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Finally, William Blair restated a “market perform” rating on shares of Inari Medical in a research note on Tuesday. Twelve research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $68.00.

Inari Medical Trading Down 0.2 %

Shares of NASDAQ NARI opened at $79.30 on Tuesday. The stock has a market cap of $4.64 billion, a P/E ratio of -58.74 and a beta of 0.97. Inari Medical has a 12-month low of $36.73 and a 12-month high of $79.69. The business’s fifty day simple moving average is $53.49 and its 200-day simple moving average is $49.14.

Insider Activity

In related news, Director William Hoffman sold 200,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $60.47, for a total transaction of $12,094,000.00. Following the completion of the sale, the director now owns 238,987 shares in the company, valued at $14,451,543.89. This represents a 45.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Hykes sold 3,000 shares of Inari Medical stock in a transaction on Friday, December 20th. The shares were sold at an average price of $55.29, for a total transaction of $165,870.00. Following the completion of the transaction, the chief executive officer now owns 439,310 shares in the company, valued at approximately $24,289,449.90. This represents a 0.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 406,000 shares of company stock valued at $22,621,870. 10.60% of the stock is currently owned by company insiders.

Institutional Trading of Inari Medical

A number of hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its stake in shares of Inari Medical by 67.2% during the third quarter. GAMMA Investing LLC now owns 1,177 shares of the company’s stock worth $49,000 after purchasing an additional 473 shares during the last quarter. KBC Group NV increased its stake in Inari Medical by 39.0% in the 3rd quarter. KBC Group NV now owns 1,774 shares of the company’s stock valued at $73,000 after buying an additional 498 shares during the period. Benjamin F. Edwards & Company Inc. raised its position in Inari Medical by 39.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock worth $89,000 after buying an additional 522 shares during the last quarter. Covestor Ltd lifted its stake in shares of Inari Medical by 63.5% in the 3rd quarter. Covestor Ltd now owns 2,384 shares of the company’s stock worth $99,000 after acquiring an additional 926 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Inari Medical in the second quarter valued at about $104,000. 90.98% of the stock is owned by institutional investors and hedge funds.

About Inari Medical

Inari Medical, Inc builds minimally invasive, novel, and catheter-based mechanical thrombectomy devices and accessories for the specific disease states in the United States. The company provides ClotTriever system, which is designed to core, capture, and remove large clots from large vessels for treatment of deep vein thrombosis and peripheral thrombus; FlowTriever system, a large bore catheter-based aspiration and mechanical thrombectomy system to remove large clots from large vessels in the peripheral vasculature for treating pulmonary embolism and other complex venous thromboembolism cases; InThrill system to treat small vessel thrombosis; and LimFlow system for patients who have chronic limb-threatening ischemia with no suitable endovascular or surgical revascularization options and risk of major amputation.